Word: galbraith
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Dates: during 1960-1969
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...other night I woke with a blissful feeling and discovered I had been dreaming that the whole goddam place had burned down," read the letter to President Kennedy in 1961. "I dozed off again, hoping for a headline saying no survivors." J.F.K.'s correspondent was John Kenneth Galbraith, U.S. Ambassador to India, and "the whole place," naturally enough, was the State Department in Washington. The diaries of the acerbic Harvard economist, to be published in the October issue of American Heritage, contain some other fascinating passages, notably an account of Jackie Kennedy's state visit to India...
...economic strategy. As the debate grows louder, it also grows more confused. Milton Friedman and other "monetarist" economists warn that the Federal Reserve Board may already have tightened credit enough to raise a threat of "severe economic contraction." A.F.L.-C.I.O. President George Meany and Economist John Kenneth Galbraith insist that the restraints are ineffective and that only some form of wage and price control can slow price increases...
...debate mirrors more than the deep differences in economic theory between, say, Friedman and Galbraith. Whatever theories they follow, the economists who are trying to analyze the current state of business from available statistics are something like the legendary three blind men who tried to find out what an elephant was like by feeling its trunk, legs and tail. The Government gathers some statistics in stupefying detail; many critics, for example, consider the myriad crop statistics published by the Agriculture Department to be a quixotic extravagance. On the other hand, some key figures that might disclose how much inflationary pressure...
...before Nixon's speech, Harvard's John Kenneth Galbraith, testifying before a joint congressional subcommittee, rather fantastically proposed nationalization of any company doing more than 75% of its business with the Department of Defense. But he plainly insisted: "I am not a supporter of unilateral disarmament."* While many Congressmen have called for reduction of U.S. troop commitments in Europe, none have seriously suggested that NATO or any other U.S. military alliance be dismantled. Less than three months ago, Senator J. William Fulbright accused Defense Secretary Melvin Laird of using a "technique of fear." Fulbright has given...
...Galbraith got his usual maximum mileage out of his views on the military. He first set them forth in the lead article in the June Harper's. Then he entered the Harper's article in the subcommittee-hearing record, along with his testimony. Last week the article also appeared as a book: 72 pages in hard cover for $3.95; 96 pages in paperback...